THE DISTRICT OF TKKNT, A MODEL CO-OPEKATI v'E DISTRICT IJ 



limited by shares and endeavour by means of the conduct of the business 

 contemplated in their rules to facilitate and simplify the circulation of money 

 and to promote and encourage the industry and commerce of the district. 

 That they ma^'* attain this end, these banks are authorized to receive deposits 

 in money in current account with or without use of the system of cheques or 

 by the system of bank books. The first deposit entered in a bank book (or on 

 a cash certificate) must be at least loo crowns and the total amount deposited 

 on the bank book system may not exceed tlirice the paid up capital, in the 

 Industrial and People's Bank, nor twice that paid up, in the Commercial 

 Bank of Trieste. 



If the total amoimt of the deposits entered in the bank books exceeds 

 two thirds of the above maximum, the surplus must be entirely invested 

 in Government securities belonging to the Bank and engaged in its name. 

 The Banks are authorized also to issue cheques of not less than 

 100 crowns to bearer and at interest ; the total amount of the cheques in 

 course may not exceed the amount of capital actually paid up on the Bank 

 shares. They discount bills of exchange, cheques, invoices and other credit?; 

 they grant loans in current account ; they grant loans and advances on 

 pledge of real and personal estate, they take part in the foundation and 

 working of industrial, commercial and other enterprises of public utihty, 

 granting credits for the purpose, and taking or giving advances of shares 

 and bonds ; they receive in deposit Government securities and other art- 

 icles, sell Government securities redeemable in instalments ; purchase, sell, 

 take or give real estate on lease, undertake or arrange public and private 

 loans, undertake constructions ; receive concessions for railways and other 

 transport business etc. 



The Trent Industrial Bank is further authorized to issue bonds up to 

 the amount of the mortgage loans granted on buildings intended for industrial 

 or commercial purposes, in return for mortgages on the buildings and on 

 the mortgaged capital, as well as the amount of the loans granted for the 

 same, objects, to societies, transport, commercial or industrial undertakings, 

 secured on mortgage. The total amount of the bonds must never exceed five 

 times the share capital actually paid up. As a special guarantee of the pay- 

 ment of the capital and interest on the bonds of the bank, issued in con- 

 formity with the above provisions, a special reserve fund for Bank bonds has 

 been formed ; by means of an initial paj^nent of 100,000 crowns and a con- 

 tribution out of the annual profits (5 % of the profits of the Bank after 

 deducting the dividend to shareholders), until the fund amounts to 5 % 

 of the total amount of the bonds in circulation. 



Every shareholder participates in the property of the society in the 

 proportion laid down in the rules and in the profits and losses in proportion 

 to the number of his shares ; the shareholder is liable for the engagements 

 of the society only up to the amount of the shares he possesses. The ad- 

 ministrative authorities of the society are the Board of Management and 

 the General Meeting of Members. Besides these, there is a Council of Super- 

 vision or Committee of Inspection, which has a right to examine the books 

 of the society at any moment and the annual balance sheet. 



